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I am sure that there are, but unfortunately I dont know of any. Have you considered going online, my compay is aaaonlinepds.com.au
but there are a few reasonable ones at 1/3 of the fee you will be quoted for a full service schedule
George
Hi Rob123,For peace of mind employ the best QS you can affordTo get back to the original question, I don.t know the company US INVEST but you have to understand how far people in the USA will go for $300 to understand the extent to which scammers will go for $3995!!!
You don't need a middleman, I have bought 5 properties inn Rochester for an average price $25500 each I have built up a team of buyers realtor, Property Manager and Attorney whom I trust. I have built up local knowledge, mainly through their help, and my average NET RETURN ON CAPITAL IS 30%( from year 2 onwards) The first year there are reno's, evictions of long term tennants and a general bedding down.- my worst return in year one is 15 %To get back to the original question, I don.t know the company US INVEST but you have to understand how far people in the USA will go for $300 to understand the extent to which scammers will go for $3995!!!
You don't need a middleman, I have bought 5 properties inn Rochester for an average price $25500 each I have built up a team of buyers realtor, Property Manager and Attorney whom I trust. I have built up local knowledge, mainly through their help, and my average NET RETURN ON CAPITAL IS 30%( from year 2 onwards) The first year there are reno's, evictions of long term tennants and a general bedding down.- my worst return in year one is 15 %Hi All,
Firstly i must declare my interest in that I am a QS who specialises in depreciation. Quite a few issues have been raised here.
1. Membership of AIQS( which I am ) is not required however your QS must be registered with the Tax Practioners Board
2 Developers often supply "marketing depreciation schedules" The ones I have seen are all based on an average (compared to a specific) appartment with the average purchase price based on the average specification. Normally they have a disclaimer that says that it not suitable for use in tax returns
3 Depreciation calculations are partially based on the price paid ie the purchase price, so unless the previously done depreciation report used the same purchase price as you paid you cannot use the report
4. under the rules of self assessment you can do part of the work and save about half of the fees
5 QS guarantees of the first year claim are pretty meaningless as a typical report costs $500-600 and a typical new property's depreciation claim for the first full year is approx >$10,000
<moderator: delete advertising>Hi Paullie,
Sorry and saddened to hear thatWhy would you invest @ a 12% return when you can buy a house in USA @ 30%. I suppose the question is why invest in Aussie property at all?
Hi Biltongboer,
Never ever get the building value stated in a Puchase Contract
kind regards
George smitAshley C wrote:Hi,Further, the ATO would generally expect that any deductions for depreciable items and capital works acquired post settlement be based on the actual cost and not a QS report. Ie if you paid for them you should have the details of what the actual cost was.
As such, I think that obtaining a new QS report is not appropriate.
Hi Ashley C,
Except for in the case where the property was the principal residence, then the ATO will accept that the taxpayer was not obliged to keep detailed cost records and will accept a QS report,
kind reards
George Smit
http://www.aaaonlinepds.com.auHi Dragon,
An indicative schedule is pretty useless to you anyway. It normally can't be used for your tax return, it is often called a "marketing" schedule
kind regards
George Smitwww.aaaonlinepds.com.au
www. condevds.com.au
Hi Fredo 4305
No point at all unless something significant has changed. ie. major reno's or if you had a very poor report done in the first place
the report is valid for that purchase
kind regards
George smit
CONDEV DEPRECIATION SERVICES
http://www.condevds.com.auSorry but forgot to say that V&P are based in Browns Plains
Hi Namz
You can try Joff Martin of JJ Dixon (based in Toowong) 3870 3840
or Jitendra Prasad of Veal and Prasad 38092055
both are the greatest with property!!!
kind regards
GeorgeHi All,
The one thing I as an Australian foun difficult to understand about the investing in the USA is the amount of violent crime and it's a rule that you don't invest in an area that features on the crime map. The tennants who are prepared to live with that are not good.
kind regards
GeorgeHi Jayhinricks,
You have to put it into perspective. We were thinking of building a $20,000 shed but instead bought a $20,000 house with a net return of $6000pa. It will be debt free after 3 years vs a car?I have now sold my investment property in Australia and will pay off some debt, and then invest $200,000 and aim for a net $70-80,000 pa net return.
Now while I understnd the risk of putting all my eggs in one basket, they were in one (possibly overvalued) basket in Australia before.
kind regards
GeorgeHi All,
I have just bought two properties in Rochester NY, without visiting the USA. My agent took heaps of photo's and Skype, building inspections and title insurance I now net a 30% reutrn.(yes net of taxes(rates)maintenance and fees). I did not officially finance them, I just put it on the mortgage. Total investment USA $42000, which converted to A$40,500.
YES, I have been paid for two quarters of net returnkind regards
GeorgeA Scott-Power,
The aussie banks won't lend money on overseas property. The ATO considers it income, subject to tax.
kind regards
GeorgeHi Steve and Aran,
Congrats on having the guts to do what others don't.
Ihave bought two properties recently in the USA in Rochester NY and am very happy with the 30% net (yes net of all expenses) return. I will be happy to answer questions about these and the all important Property Manager.
Your projection and comments about Rochester as an investment area?
I hope that you are claiming depreciation!!!
kind regards
GeorgeHi Guys,
<moderator: delete advertising> I have specialised in depreciation for 14 years. Biltongboer , Terryw is correct. don't take a chance on missing something like a hot water unit, @rate?,@value?, smoke alarms etc
kind regards
George
Hi Rob123,For peace of mind employ the best QS you can afford
